Max Life’s board on Friday approved the merger with HDFC Life. After the merger, the Company will become the country’s largest life insurance business. Max Life’s parent company after the news of Max India, stocks have risen 14 per cent larger. It has reached Rs 60 to Rs 490. However, HDFC’s stock gained 1.5 percent.
Max was decided at the meeting of the Board
– Max Life and HDFC Life’s board meeting Exclusive strategic agreement for the merger is approved.
-The Agreement after due diligence will sit together again will set the terms of the company merger.
-although It has not yet disclosed the amount.
After the merger, the new company would be 50 thousand million
-mrgr Values the company formed after being deployed 50 thousand crores, ICICI Prudential, which will be greater than 54 percent.
Rs 32500 crore of ICICI Prudential -financial value.
-Stay, The country’s largest insurer LIC value is Rs 25 lakh.
How much market share after merger
-The Mega-merger, the new company’s total market share of HDFC and Max rose to 12.4 per cent.
Most private insurance companies will cumulative length. Then comes the second ICICI Pru.
-is a Market share is 11.3 percent. The third with a market share of 9.7 per cent, SBI Life.
Here’s how the two companies are in the next slide financial
How the two companies Financial
HDFC Standard Life UK company has joint ventures with Standard Life is. A total of 61.63 per cent stake in HDFC. 35 percent of the UK’s Standard Life.
818 crore in 2015-2016 -financially year profit
-set Under Management 74 247 cr
– Total premium 16 313 cr
– Net 3,150 crore
Max Max Life Insurance, Japan’s Mitsui Financial Services and Insurance Summit agreement. Max Financial Services is part of the Max Group. Max Life Insurance is part of the 68 per cent.
-financial Year net profit of 439 crores in 2015-2016
– Assets under management 35 824 CR